BEIJING, Oct 24 (Reuters) - China is doing all it can to counter the international financial crisis, which has been a "severe shock" to the global economy and increased uncertainties for the world's largest developing economy, its leaders told the opening ceremony of an Asia-Europe meeting on Friday.
"The global financial crisis has clearly increased the uncertainties and unstable factors in the Chinese economy's development," President Hu Jintao said.
"China's economic growth faces various hardships and challenges... For China's economy to maintain a healthy state is itself an important contribution to global financial stability and economic development."
China was doing everything it could to counter the crisis, by implementing flexible and prudent policies to keep growth on track, Hu said.
Beijing is hosting a summit of 27 European Union member states and 16 Asian countries to discuss the global downturn, climate change and international security.
Cooperation and dialogue between Asia and Europe was even more important in such uncertain times, Hu said, adding that instability in global energy and grain markets was also a challenges.
"We should embrace an open attitude and make full use of our strong economic complementarities to deepen existing cooperation."
The leaders' meeting came at the end of another volatile week in world markets, with China's benchmark stock exchange ending at its lowest level in two years and commodities markets battered by heavy selling.
"The global financial crisis has been constantly spreading and worsening, creating a severe shock to global economic growth," Premier Wen Jiabao said.
(Reporting by Chris Buckley and Jason Subler; Writing by Lucy Hornby; Editing by Nick Macfie)
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